RDP 2025-04: HANK and the Transmission of Shocks to Demand and Supply Appendix A: Shock Responses Not Discussed in the Main Text

Karsten Chipeniuk, Gulnara Nolan and Matt Nolan

June 2025

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Figure A1: Impulse Responses to a Decrease in Household Patience — Figure A1: Impulse Responses to a Decrease in Household Patience

This shock is a positive impulse to the household time rate of preference $ρ$

Figure A2: Impulse Responses to a Decrease in Average Household Labour Efficiency — Figure A2: Impulse Responses to a Decrease in Average Household Labour Efficiency

This shock is a negative impulse to an average labour efficiency z_t

Figure A3: Impulse Responses to an Increase in the Elasticity of Labour Supply with Respect to Wages — Figure A3: Impulse Responses to an Increase in the Elasticity of Labour Supply with Respect to Wages

This shock is a positive impulse to the reciprocal of the Frisch elasticity

Figure A4: Impulse Responses to a Decrease in Firm Total Factor Productivity — Figure A4: Impulse Responses to a Decrease in Firm Total Factor Productivity

This shock is a negative impulse to Z_t in the monopolistic firms' production technology